all of these are for the same question. all of them have to be answered correctly in order for it to count. please make answesr visible. thank you

Three years ago, the Smith Company entered into a contract to construct a building for a client. Smith uses the percentage-of-completion method (.e. they recognize revenue over time). The details of the contract are summarized in the table below: $ $ $ $ Billings during year Cash collections during year Contract price Cost incurred in the year) Cost incurred (running balance) Estimated cost to complete Year 1 4,000 $ 500 $ $12,000 $1,000 $1,000 $3,000 Year 2 5,500 3,500 $12,000 $6,000 $7,000 $3,000 Year 3 2,500 8,000 $12,000 $3,000 $10,000 QUESTION: In YEAR 1, Revenue is credited for... 3,000 2,000 4,000 500 3,500 No revenue from the contract is credited in YEAR 1 $ $ Billings during year Cash collections during year Contract price Cost incurred in the year) Cost incurred (running balance) Estimated cost to complete Year 1 4,000 $ 500 $ $12,000 $1,000 $1,000 $3,000 Year 2 5,500 $ 3,500 $ $12,000 $6,000 $7,000 $3,000 Year 3 2,500 8,000 $12,000 $3,000 $10,000 QUESTION: In YEAR 1, Revenue is credited for... 3,000 2,000 4,000 500 3,500 No revenue from the contract is credited in YEAR 1 None of the above is correct, all choices are far from the correct answer (continued from the previous problem) In YEAR 2, Revenue is... Credited for $600 Debited for $600 Credited for 5,400 Credited for $5,500 Credited for $3,500 No revenue from the contract is credited or debited in YEAR 2 None of the above is correct, all choices are far from the correct answer (continued from the previous problem) Which of the following will appear on the Balance Sheet for the Year 1 (select all that apply - i.e., just one or as many as all of them)? Accounts Receivable: $3,500 Accounts Receivable: $4,000 A liability account with a $1,000 balance Construction in progress net of billings: $1,000 3: (continued from the previous problem) As a result of the journal entries recorded in YEAR 2, pre-tax net income... Increases by $5,500 Increases by $9,500 Increases by $5,400 Increases by $8,400 Decreases by $100 Decreases by $600 6 Decreases by $1,100 8: Decreases by $3,000 Does not change